TF1, Discovery mull Eurosport call option
Pascale Paoli-Lebailly | 20-11-2013
Media groups TF1 and Discovery have announced the start of talks to evaluate whether the US group will use its call option on Eurosport prior to the agreed-upon date.
Under the agreement signed in December 2012, Discovery has a call option to raise its stakes in pay-TV channel Eurosport from its current 20% to 51% on or after 21 December 2014.
TF1 can also exercise its sale option over the remaining 49%, allowing Discovery to take over 100% of Eurosport.
TF1 Group has indicated, however, that it will retain its 80% in Eurosport France until at least 31 December 2014.
The global strategic agreement signed between both groups a year ago also entitled Discovery to take a 20% stake in TF1's themed channels TV Breizh, Histoire, Ushuaïa TV and Stylia.